2007's largest IPO gets bigger

Chinese bank Citic, which last month launched the world's biggest initial public offering so far this year, has boosted its offering to nearly $6bn (€4bn) after exercising the 15% green shoe option.

The decision to authorise the green shoe or overallotment option follows massive oversubscription of the issue in the Shanghai retail and institutional tranches. The institutional allotment was 80 times oversubscribed and the retail...